Loan Guarantee Act 1972 s 2
Text recovered by OCR from a scanned copy — section numbers and wording may be wrong. Check the official PDF on lom.agc.gov.my before citing.
s 2 Provisions of Act 410 applying to loan
(1) The following provisions of the Loans (Asian Development Bank) Act 1968, namely:
(a) section 7 (which authorizes the Government to give guarantees and undertakings with respect to borrowings by statutory authorities from the Asian Development Bank); and
(b) so far as they relate to guarantees and undertakings by the Government, sections 11 and 12 (which contain supplementary provisions for the implementation, among other things, of any such guarantee or undertaking), save that for the words “1950” in subsection 12(5), there shall be substituted therefor the words “1960”,
shall apply in relation to any borrowing from that Bank by the company called Malaysian Industrial Development Finance
Laws of Malaysia A CT 66
Limited as if the company were a statutory authority within the meaning of that Act, and the borrowing were made under subsection 5(1) of that Act.
(2) If any sum is paid out of the Consolidated Fund in respect of any liability incurred by the Government by virtue of subsection (1), the Minister shall as soon as possible beginning with the sitting of the House of Representatives immediately after any such sum was paid and ending with that in which all liability in respect thereof and any interest payable thereon is finally discharged by the company, lay before the House of Representatives at each of its sittings a statement relating thereto.
(3) Paragraph 12(2)(a) and (b) (which provides for exemptions from taxation and from exchange control) shall also apply in relation to any agreement concluded, whether before or after the passing of this Act, with the Bank by the company, with the approval of the Government, in respect of any borrowing by the company from the Bank, and to any bond, promissory note or instrument issued by the company pursuant to any such agreement, as they apply to the agreements and instruments there mentioned.
Malay text (authoritative)
(1) Peruntukan yang berikut dalam Akta Pinjaman (Bank Pembangunan Asia) 1968, iaitu: seksyen 7 (yang memberi kuasa kepada Kerajaan untuk memberikan jaminan dan aku janji berkenaan dengan wang yang dipinjam oleh pihak berkuasa berkanun daripada Bank Pembangunan Asia); dan setakat yang berhubungan dengan jaminan dan aku janji oleh Kerajaan, seksyen 11 12 (yang mengandungi peruntukan tambahan bagi pelaksanaan, antara laın, mana-mana jaminan atau aku janji tersebut) kecuali bahawa perkataan "1950" dălam subkakan" 0(5) hendaklah digantikan dengan
Undang-Undang Malaysia hendaklah_ terpakai berhubung dengan sesuatu peminjaman arıpada Bank ıtu oleh syarıkat yang bernama syarıka 'ermodalan Kemajuan Perusahaan Malaysia Berhad seolah-ola syarıkat itu ialah suatu pihak berkuasa berkanun dalam erti Akta itu, dan peminjaman itu adalah dibuat di bawah subseksyen 5(1) Akta itu.
(2) Jika apa-apa wang dibayar daripada Kumpulan Wang Dısatukan berkenaan dengan apa-apa tanggungan yang dılakukan oleh Kerajaan menurut subseksyen (1), maka Menteri hendaklah, dengan seberapa segera yang boleh, bermula dari persidangan Dewan Rakyat sebaik selepas wang itu telah dibayar dan berakhir dengan tahun kewangan di mana segala tanggungan berkenaan dengannya dan apa-apa bunga yang kena dıbayar atasnya diselesalkan dengan muktamad oleh syarikat itu, membentangkan dalam Dewan Rakyat pada tiap-tiap persidangannya suatu penyata yang berhubungan dengannya.
(3) Perenggan 12(2)(a) dan (b) tersebut (yang memperuntukkan pengecualian daripada cukaı dan kawalan pertukaran) hendaklah juga terpakal berhubung dengan sesuatu perjanjıan yang dıbuat, sama ada sebelum atau selepas Akta ini diluluskan, dengan Bank itu oleh syarikat itu, dengan kelulusan Kerajaan, berkenaan dan aa gi sesta pebon, suaat jahj yarkagital surad ara yau, dikeluarkan oleh syarikaț itu menurut mana-mana perjanjian itu, sebagaimana ia terpakai bagi perjanjian dan surat cara yang disebut dalamnya itu. Pengesahan perjanjian jaminan
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Find Act 66 on lom.agc.gov.my ↗
Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).